Furon Posts $2.3-Million Quarterly Profit

Furon Co., the Laguna Niguel-based industrial products company, reported third-quarter net income of $2.3 million, including an extraordinary gain of $398,000 resulting from the settlement of certain terminated pension plans. The company had net income of $2.2 million in the year-earlier quarter.

Revenue for the three months ended Nov. 3 declined 5%, to $79.1 million from $82.9 million. For the nine-month period, net income rose 20%, to $7.8 million from $6.5 million in the year-earlier period. Revenue dipped slightly to $251.5 million from $252.7 million.

Chairman Peter Churm said the downturn in sales reflected a general softening in the economy, particularly in the general industrial markets served by the company.